Chuwong murder case shares frozen

BANGKOK: A civil court has granted an injunction to freeze more than B65 million in a stock trading account and real estate belonging to a golf caddie, one of the suspects in the alleged share fraud involving late tycoon Chuwong Saetang.

Kanthana Siwathanapol’s stocks – 5,759,000 shares of Energy Absolute Plc and 10 million shares of Wyncoast Industrial Park Plc – were frozen, according to the Southern Bangkok Civil Court. The order took effect on Friday (Oct 28).

Mr Chuwong was killed in a car crash in which former commerce minister Banyin Tangpakorn was the driver on June 26 last year. Mr Banyin has been charged with the premeditated murder of Mr Chuwong.

Police suspected foul play when it turned out that the businessman’s shares, valued at B260mn, were transferred to Ms Kanthana, and Srithana Promma – the mother of Uracha Wachirakulton, a former broker, who was looking after Mr Chuwong’s stock trading account.

Lt Col Banyin, together with the three women, is facing charges of stealing Mr Chuwong’s shares.

The injunction order was sought by Mr Chuwong’s widow Sirirat Saetang, 50, and their 23-year-old son, Kan – both serving as executors of the tycoon’s estate.

This came as the pair petitioned the Southern Bangkok Civil Court several months ago, demanding the return of B228mn from 9.5 million shares belonging to Mr Chuwong, plus interest of 7.5 per cent per year, from Ms Kanthana, Lt Col Banyin, a stock brokerage firm and two employees of the firm.

Anek Kamchum, a lawyer for Mr Chuwong’s family, said this is a civil case to call for the return of Mr Chuwong’s assets believed to have been unscrupulously transferred.

The family is waiting for the court to set a trial date after the injunction has been granted, he said.

The court said on Friday that Mr Chuwong’s family found he had transferred his shares from his stock trading account to Ms Kanthana before he died.